Question

If you take out an online payday loan for $1000, and the annual percentage rate is 300%, how much would you owe in one year? How much would you owe in just pay period (two weeks)?

Some please help me with this Answer..

Answer 1

oooh! I love this kind of math, so easy to do!

Like I say ALL the time, if you know how to solve percentages you know how to solve anything that deals with percentages. If you don't izz all gucci! :D

To solve a percentage make it a decimal & multiply. :) (SIMPLE)
- .300 % multiplied by 1000 = 300 :D you would pay 300$ a year obviously!

I'm not that great at percentage math, although it is fairly easy. I hope you can use this information too push you closer too the answer! Good Luck! <3